If this means that the amount of Galnet content won't change, but the percentage that's related to in-game content will increase, I think that's very positive - especially if that means that there's more non-routine in-game content going on than previously.
If this means that the amount of Galnet content related to in-game content won't change, but the total amount of Galnet content will decrease, then that feels like taking several steps back, to how things were two or three years ago when Galnet could go for weeks between non-automated news items.
I think also, while people weren't satisfied with the "off-camera" narratives, this was because they took place 100% off-camera, and often, more recently, in undefined locations so that people couldn't go looking for in-game signs of them. They felt like they weren't really happening in Elite Dangerous.
There's still, I think, room for quite a bit of off-camera narrative, provided that it relates to some in-game content as well. For example, the Enclave Interstellar Initiative could have had some "background" material in Galnet over the previous few months:
- 6 months before II starts: news article about how meta-alloys are being widely used in research
- 4 months before II starts: news article where some corporation expresses concerns about the meta-alloy supply security
- 1 month before II starts: story about scientists noting Pleiades barnacles are showing signs of damage
...and then go into the II with that as lead-up, rather than it suddenly starting with "meta-alloy prices double! exploration CG! no previous hints that there was any sort of issue!"
- and then of course potential for a few stories following up after the II months later highlighting the long-term effects it's had
If most of the stories eventually connected around to in-game events, they wouldn't need to all have in-game interactions directly associated with them for players to feel that they were relevant. (e.g. Drew Wagar's "Premonition" storyline was generally well-received and the finale had lots of players participating on both sides, despite most of the lead up happening "off-camera" and often even "off-Galnet") An in-game event which connected three stories from months or even years ago that people had assumed were just background flavour could be really exciting. (And it'd look like you'd planned it that way even if you'd just picked up those loose stories months later, too)